Professor Craig Burnside

  • Research Professor of Economics (Economics)

email: Craig.Burnside@glasgow.ac.uk

College of Social Sciences, Adam Smith Business School, Gilbert Scott Building

ORCID iDhttps://orcid.org/0000-0001-9843-6053

Biography

  • BA (Hons), University of British Columbia, 1985
  • PhD, Northwestern University, 1991
  • Professor, Duke University, 2004-
  • Professor, University of Virginia, 2002-04
  • Economist, Senior Economist & Lead Economist, World Bank, 1995-2002
  • Assistant Professor, University of Pittsburgh, 1992-95
  • Assistant Professor, Queen's University, 1990-92.
  • Research Associate, National Bureau of Economic Research

Research interests

Craig is a member of the Finance research cluster.

Areas of Expertise:

  • Macroeconomics
  • International finance
  • Finance
  • Econometrics

Publications

List by: Type | Date

Jump to: 2020 | 2016 | 2013 | 2012 | 2011 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2002 | 2001 | 2000 | 1998 | 1996 | 1994 | 1993
Number of items: 34.

2020

Burnside, A. C. and Graveline, J. J. (2020) On the asset market view of exchange rates. Review of Financial Studies, 33(1), pp. 239-260. (doi: 10.1093/rfs/hhz049)

2016

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2016) Understanding booms and busts in housing markets. Journal of Political Economy, 124(4), pp. 1088-1147. (doi: 10.1086/686732)

Burnside, C. (2016) Identification and inference in linear stochastic discount factor models with excess returns. Journal of Financial Econometrics, 14(2), pp. 295-330. (doi: 10.1093/jjfinec/nbv018)

2013

Burnside, C. (2013) New Zealand's risk premium. New Zealand Economic Papers, 47(1), pp. 27-52. (doi: 10.1080/00779954.2012.721690)

2012

Burnside, A. C. and Graveline, J. (2012) On the Asset Market View of Exchange Rates. (doi: 10.3386/w18646)

Burnside, C. (2012) Carry trades and risk. In: Sarno, L., James, J. and Marsh, I.W. (eds.) Handbook of Exchange Rates. Series: Wiley handbooks in financial engineering and econometrics. Wiley. ISBN 9780470768839

2011

Burnside, C. (2011) The cross section of foreign currency risk premia and consumption growth risk: comment. American Economic Review, 101(7), pp. 3456-3476. (doi: 10.1257/aer.101.7.3456)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2011) Carry trade and momentum in currency markets. Annual Review of Financial Economics, 3(1), pp. 511-535. (doi: 10.1146/annurev-financial-102710-144913)

Burnside, C. , Han, B., Hirshleifer, D. and Wang, T.Y. (2011) Investor overconfidence and the forward premium puzzle. Review of Economic Studies, 78(2), pp. 523-558. (doi: 10.1093/restud/rdq013)

Burnside, C. , Eichenbaum, M., Kleshchelski, I. and Rebelo, S. (2011) Do peso problems explain the returns to the carry trade? Review of Financial Studies, 24(3), pp. 853-891. (doi: 10.1093/rfs/hhq138)

2009

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2009) Understanding the forward premium puzzle: a microstructure approach. American Economic Journal: Macroeconomics, 1(2), pp. 127-154. (doi: 10.1257/mac.1.2.127)

Burnside, C. (2009) Comment on "Carry trades and currency crashes". In: Acemoglu, D., Rogoff, K. and Woodford, M. (eds.) NBER Macroeconomics Annual 2008. University of Chicago Press, pp. 349-359.

2008

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2008) Carry trade: the gains of diversification. Journal of the European Economic Association, 6(2-3), pp. 581-588. (doi: 10.1162/JEEA.2008.6.2-3.581)

2007

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2007) The returns to currency speculation in emerging markets. American Economic Review, 97(2), pp. 333-338. (doi: 10.1257/aer.97.2.333)

2006

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2006) Government finance in the wake of currency crises. Journal of Monetary Economics, 53(3), pp. 401-440. (doi: 10.1016/j.jmoneco.2005.03.012)

2005

Burnside, C. and Fanizza, D. (2005) Hiccups for HIPCs? Implications of debt relief for fiscal sustainability and monetary policy. Contributions to Macroeconomics, 5(1), pp. 1-37. (doi: 10.2202/1534-6005.1133)

2004

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2004) Government guarantees and self-fulfilling speculative attacks. Journal of Economic Theory, 119(1), pp. 31-63. (doi: 10.1016/j.jet.2003.06.002)

Burnside, C. and Dollar, D. (2004) Aid, policies, and growth: reply. American Economic Review, 94(3), pp. 781-784. (doi: 10.1257/0002828041464524)

Burnside, C. , Eichenbaum, M. and Fisher, J. (2004) Fiscal shocks and their consequences. Journal of Economic Theory, 115(1), pp. 89-117. (doi: 10.1016/S0022-0531(03)00252-7)

Burnside, C. (2004) Currency crises and contingent liabilities. Journal of International Economics, 62(1), pp. 25-52. (doi: 10.1016/j.jinteco.2003.07.003)

2002

Burnside, C. (2002) On contingent liabilities and the likelihood of fiscal crises. Comparative Economic Studies, 44(1), pp. 1-14. (doi: 10.1057/ces.2002.2)

2001

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2001) Prospective deficits and the Asian currency crisis. Journal of Political Economy, 109(6), pp. 1155-1197. (doi: 10.1086/323271)

Burnside, C. (2001) Hedging and financial fragility in fixed exchange rate regimes. European Economic Review, 45(7), pp. 1151-1193. (doi: 10.1016/S0014-2921(01)00090-3)

2000

Burnside, C. and Dollar, D. (2000) Aid, policies, and growth. American Economic Review, 90(4), pp. 847-868. (doi: 10.1257/aer.90.4.847)

1998

Burnside, C. (1998) Detrending and business cycle facts: a comment. Journal of Monetary Economics, 41(3), pp. 513-532. (doi: 10.1016/S0304-3932(98)00007-5)

Burnside, C. (1998) Solving asset pricing models with Gaussian shocks. Journal of Economic Dynamics and Control, 22(3), pp. 329-340. (doi: 10.1016/S0165-1889(97)00075-4)

1996

Burnside, C. (1996) Sectoral Solow residuals. European Economic Review, 40(3-5), pp. 861-869. (doi: 10.1016/0014-2921(95)00095-X)

Burnside, C. (1996) Industry innovation: where and why - a comment. Carnegie-Rochester Conference Series on Public Policy, 44, pp. 151-167. (doi: 10.1016/S0167-2231(96)90009-3)

Burnside, C. (1996) Production function regressions, returns to scale, and externalities. Journal of Monetary Economics, 37(2), pp. 177-201. (doi: 10.1016/S0304-3932(96)90033-1)

Burnside, C. and Eichenbaum, M. (1996) Factor-hoarding and the propagation of business-cycle shocks. American Economic Review, 86(5), pp. 1154-1174.

Burnside, C. and Eichenbaum, M. (1996) Small-sample properties of GMM-based Wald tests. Journal of Business and Economic Statistics, 14(3), pp. 294-308. (doi: 10.2307/1392444)

1994

Burnside, C. (1994) Hansen-Jagannathan bounds as classical tests of asset-pricing models. Journal of Business and Economic Statistics, 12(1), pp. 57-79. (doi: 10.2307/1391924)

1993

Burnside, C. (1993) Consistency of a method of moments estimator based on numerical solutions to asset pricing models. Econometric Theory, 9(4), pp. 602-632. (doi: 10.1017/S0266466600008008)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (1993) Labor hoarding and the business cycle. Journal of Political Economy, 101(2), pp. 245-273.

This list was generated on Sun Aug 9 19:36:50 2020 BST.
Number of items: 34.

Articles

Burnside, A. C. and Graveline, J. J. (2020) On the asset market view of exchange rates. Review of Financial Studies, 33(1), pp. 239-260. (doi: 10.1093/rfs/hhz049)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2016) Understanding booms and busts in housing markets. Journal of Political Economy, 124(4), pp. 1088-1147. (doi: 10.1086/686732)

Burnside, C. (2016) Identification and inference in linear stochastic discount factor models with excess returns. Journal of Financial Econometrics, 14(2), pp. 295-330. (doi: 10.1093/jjfinec/nbv018)

Burnside, C. (2013) New Zealand's risk premium. New Zealand Economic Papers, 47(1), pp. 27-52. (doi: 10.1080/00779954.2012.721690)

Burnside, A. C. and Graveline, J. (2012) On the Asset Market View of Exchange Rates. (doi: 10.3386/w18646)

Burnside, C. (2011) The cross section of foreign currency risk premia and consumption growth risk: comment. American Economic Review, 101(7), pp. 3456-3476. (doi: 10.1257/aer.101.7.3456)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2011) Carry trade and momentum in currency markets. Annual Review of Financial Economics, 3(1), pp. 511-535. (doi: 10.1146/annurev-financial-102710-144913)

Burnside, C. , Han, B., Hirshleifer, D. and Wang, T.Y. (2011) Investor overconfidence and the forward premium puzzle. Review of Economic Studies, 78(2), pp. 523-558. (doi: 10.1093/restud/rdq013)

Burnside, C. , Eichenbaum, M., Kleshchelski, I. and Rebelo, S. (2011) Do peso problems explain the returns to the carry trade? Review of Financial Studies, 24(3), pp. 853-891. (doi: 10.1093/rfs/hhq138)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2009) Understanding the forward premium puzzle: a microstructure approach. American Economic Journal: Macroeconomics, 1(2), pp. 127-154. (doi: 10.1257/mac.1.2.127)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2008) Carry trade: the gains of diversification. Journal of the European Economic Association, 6(2-3), pp. 581-588. (doi: 10.1162/JEEA.2008.6.2-3.581)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2007) The returns to currency speculation in emerging markets. American Economic Review, 97(2), pp. 333-338. (doi: 10.1257/aer.97.2.333)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2006) Government finance in the wake of currency crises. Journal of Monetary Economics, 53(3), pp. 401-440. (doi: 10.1016/j.jmoneco.2005.03.012)

Burnside, C. and Fanizza, D. (2005) Hiccups for HIPCs? Implications of debt relief for fiscal sustainability and monetary policy. Contributions to Macroeconomics, 5(1), pp. 1-37. (doi: 10.2202/1534-6005.1133)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2004) Government guarantees and self-fulfilling speculative attacks. Journal of Economic Theory, 119(1), pp. 31-63. (doi: 10.1016/j.jet.2003.06.002)

Burnside, C. and Dollar, D. (2004) Aid, policies, and growth: reply. American Economic Review, 94(3), pp. 781-784. (doi: 10.1257/0002828041464524)

Burnside, C. , Eichenbaum, M. and Fisher, J. (2004) Fiscal shocks and their consequences. Journal of Economic Theory, 115(1), pp. 89-117. (doi: 10.1016/S0022-0531(03)00252-7)

Burnside, C. (2004) Currency crises and contingent liabilities. Journal of International Economics, 62(1), pp. 25-52. (doi: 10.1016/j.jinteco.2003.07.003)

Burnside, C. (2002) On contingent liabilities and the likelihood of fiscal crises. Comparative Economic Studies, 44(1), pp. 1-14. (doi: 10.1057/ces.2002.2)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2001) Prospective deficits and the Asian currency crisis. Journal of Political Economy, 109(6), pp. 1155-1197. (doi: 10.1086/323271)

Burnside, C. (2001) Hedging and financial fragility in fixed exchange rate regimes. European Economic Review, 45(7), pp. 1151-1193. (doi: 10.1016/S0014-2921(01)00090-3)

Burnside, C. and Dollar, D. (2000) Aid, policies, and growth. American Economic Review, 90(4), pp. 847-868. (doi: 10.1257/aer.90.4.847)

Burnside, C. (1998) Detrending and business cycle facts: a comment. Journal of Monetary Economics, 41(3), pp. 513-532. (doi: 10.1016/S0304-3932(98)00007-5)

Burnside, C. (1998) Solving asset pricing models with Gaussian shocks. Journal of Economic Dynamics and Control, 22(3), pp. 329-340. (doi: 10.1016/S0165-1889(97)00075-4)

Burnside, C. (1996) Sectoral Solow residuals. European Economic Review, 40(3-5), pp. 861-869. (doi: 10.1016/0014-2921(95)00095-X)

Burnside, C. (1996) Industry innovation: where and why - a comment. Carnegie-Rochester Conference Series on Public Policy, 44, pp. 151-167. (doi: 10.1016/S0167-2231(96)90009-3)

Burnside, C. (1996) Production function regressions, returns to scale, and externalities. Journal of Monetary Economics, 37(2), pp. 177-201. (doi: 10.1016/S0304-3932(96)90033-1)

Burnside, C. and Eichenbaum, M. (1996) Factor-hoarding and the propagation of business-cycle shocks. American Economic Review, 86(5), pp. 1154-1174.

Burnside, C. and Eichenbaum, M. (1996) Small-sample properties of GMM-based Wald tests. Journal of Business and Economic Statistics, 14(3), pp. 294-308. (doi: 10.2307/1392444)

Burnside, C. (1994) Hansen-Jagannathan bounds as classical tests of asset-pricing models. Journal of Business and Economic Statistics, 12(1), pp. 57-79. (doi: 10.2307/1391924)

Burnside, C. (1993) Consistency of a method of moments estimator based on numerical solutions to asset pricing models. Econometric Theory, 9(4), pp. 602-632. (doi: 10.1017/S0266466600008008)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (1993) Labor hoarding and the business cycle. Journal of Political Economy, 101(2), pp. 245-273.

Book Sections

Burnside, C. (2012) Carry trades and risk. In: Sarno, L., James, J. and Marsh, I.W. (eds.) Handbook of Exchange Rates. Series: Wiley handbooks in financial engineering and econometrics. Wiley. ISBN 9780470768839

Burnside, C. (2009) Comment on "Carry trades and currency crashes". In: Acemoglu, D., Rogoff, K. and Woodford, M. (eds.) NBER Macroeconomics Annual 2008. University of Chicago Press, pp. 349-359.

This list was generated on Sun Aug 9 19:36:50 2020 BST.

Grants

  • National Science Foundation Grant, SES-0516697, 2005–2009.
  • Social Sciences and Humanities Research Council of Canada Research Grant No. 410-92-790, 1992.
  • IBM Research Support Program Grant for Supercomputing Research, 1988–1989.
  • Allen Starling Johnson Jr. Distinguished Undergraduate Research Assistant program, Spring/Fall 2005, Spring 2006, Spring 2006. 
  • Grant, Bankard Fund for Political Economy, University of Virginia, July 2003–June 2004. 
  • Grants, World Bank Research Advisory Group, 2002, 1999–2001, 1997–1998.
  • Advisory Research Committee Grant, Queen's University, 1990–1991.

Supervision

  • Li, Danyang
    Understanding the Information flows in FX Factors

Teaching

  • 1st Year PhD Macroeconomics, Duke University
  • Undergraduate Intermediate Macroeconomics, Duke University
  • Undergraduate and PhD level International Finance, Duke University

Additional information

  • National Fellow, Hoover Institution, 1998-99
  • Board of Editors, American Economic Review (2001-06, 2011-)
  • Co-editor, Canadian Journal of Economics (2007-10)
  • Associate Editor, Review of Economics and Statistics (2012-)
  • Associate Editor, Journal of Money, Credit and Banking (2003-11)